RIO DE JANEIRO, BRAZIL - Weather conditions were responsible for the cut in the projection from 80 million tons early in the year to 62 million tons in June. Domestic demand will continue strong and prices will remain high despite the progress of the harvest.
At the start of the year, StoneX was projecting a production of 80 million tons of second harvest corn. However, adverse weather conditions, particularly the lack of rainfall between April and May, reduced volumes month by month until the current production expectation of 62 million tons was reached.
According to StoneX's market intelligence analyst, Jo . . .
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